(Reuters) -Genetic testing agency 23andMe stated on Monday it’s lowering about 40%, or 200 staff, from its workforce and discontinuing additional growth of all its therapies as a part of a restructuring program.
“We’re taking these troublesome however needed actions as we restructure 23andMe and deal with the long-term success of our core shopper enterprise and analysis partnerships,” stated CEO Anne Wojcicki.
The corporate stated it’s evaluating strategic alternate options, together with licensing agreements and asset gross sales, for its therapies in growth.
Wojcicki, who has been making an attempt to take the corporate non-public since April, is dealing with a troublesome problem after impartial administrators of 23andMe resigned in September, after not receiving a passable take-private supply from the CEO.
In July, the CEO and co-founder proposed to amass all excellent shares of the agency not already owned by her or her associates for 40 cents every.
After Monday’s restructuring plan, the corporate expects annualized price financial savings of greater than $35 million.
